Let’s monitor our budgets very closely this holiday season. Whilst being in the midst of the Christmas hustle and bustle, let’s be mindful of this:
You have been paid earlier than your normal pay date. What do you do? Do you spend like there’s no tomorrow? Or do you make a plan?
Might I humbly recommend you make a plan?
This is not meant to stop you from having your fun this period. After all, it is the season to be merry. But this is said so you could maintain composure along your financial course.
If there is ever a time to be responsible with your money, it is TODAY.
Budgeting is not some out dated form of practice. It is a lifesaver. Take it from someone who was a habitual spender. If your life is out of focus financially speaking, it may be time to implement financial leadership. It’s not too late!
Financial leadership means giving your money purpose and direction. You simply have a vision of where you want to be and you allocate money so you could reach your destination. So, if you have responsibilities to meet in January after Christmas has come and gone, you want to ensure there is money there to meet those commitments.
Financial pressures, also known as societal pressures, tend to set a precedence for one’s spending.
Spending to be liked
I would like to address this topic as someone who needed to be liked at some point in their life. Spending money on people who do not necessarily like or care about you is not worth it. It doesn’t make sense enriching their lives for you to end up poorer. No need for you to be a people pleaser. Those people from whom you are seeking approval, need to be minimized from or cut out of your life.
Children are not the only ones who experience peer pressure, us adults do at some points in our lives as well. If you do have not have the money to do what others are pressuring you to do, don’t do it. If someone is encouraging you to get a credit card to make up for the money you don’t have, don’t do it! You will not be paying for the purchase price, but you will be paying for the purchase price plus interest. And if you are not able to pay the full amount due after your numerous purchases in one payment, you will be tempted to make minimum payments only. Which in turn will keep you in a debt hole.
You think your life is awful because you don’t have the things your heart desires. And someone else seems happier because they have what you don’t have. May I suggest you stop right there? Not only does comparing yourself unfavourably to others place you in a defeated mental state, but it makes a breeding ground for jealousy. Then you despise the individual for what they have and think not so healthy thoughts about them. Combat this by looking around you. You have your loved ones. You have a place to live. You have food in the fridge. You still have a job and means for travel. Even if you use public transportation, you have the funds to pay bus fare. Make this Christmas memorable by being thankful for what you have. And think on this. You are definitely further than you where you were at the beginning of 2015.
Mind your budget and your business and choose to have a Merry Money Christmas.
Melinda Belle is the visionary and founder of Astrape (As-strap-pay) Finance, the caring, knowledgeable, trustworthy, financial company guiding you to financial stability and prosperity through education, sound planning and advice. Melinda sees her role as that of an architect and is committed to the shaping of financial landscapes of businesses. She also crosses over to the personal side of finance, teaching families and individuals to manage their money and create wealth.
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